Hasbro had a strong Q3 despite tariff uncertainty, with revenue up, thanks to its Wizards of the Coast and digital gaming category offsetting declines in consumer products. 

Here are the highlights of the toy giant’s latest financial report. 

Q3 revenue: US$1.38 billion

The bottom line: Revenue was up 8% from the same period last year. 

The big winners: The company’s combined Wizards of the Coast and digital gaming segment was the big success story this quarter. Revenue for the segment was up 42% to US$572 million, thanks to increases in Magic: The Gathering sales across both tabletop and digital. 

Consumer products dip: Meanwhile, the company’s consumer products segment revenue decreased by 7% to US$797 million, due to changes in when many retailers ordered their inventory this year. Thanks to uncertainty born from threatened tariffs in the US, retailers pushed the period when they’d reset their shelves for the holidays into later in the year, and out of Q3.

The successful brands: Peppa Pig, Marvel, GI Joe and Beyblade were all hot brands this quarter for Hasbro. 

Entertainment grows: Revenue was up 8% to US$19 million in this segment. Its film and TV category grew 19% to US$1.9 million in revenue. 

A rosy 2025 outlook: The company still expects to hit an adjusted EBITDA of US$1.24 to US$1.26 for full-year 2025, an increase over last year’s US$1.1 billion to US$1.15 billion. The company plans to make new announcements at The Game Awards in December, and it just secured a master toy deal, alongside Mattel, for KPop Demon Hunters, setting itself up for some success heading into 2026. 

“After a long turnaround effort, we expect Q4 to be the start of a long-term growth period for our toys business driven by innovation, a killer entertainment slate and new partnerships,” said Chris Cocks, Hasbro’s CEO, during today’s earnings call.